National Australia Bank launches first Singapore bond

National Australia Bank hits the Singapore debt market for the first time with a S$50 million corporate bond.

National Australia Bank NAB, one of Australia's four biggest commercial banks, today launched a S$50 million $27.9 million bond deal via JP Morgan. Although it has been a frequent issuer domestically, as well as issuing in the US, the UK, Hong Kong and Japan, this is the bank's first transaction out of Singapore.

The single tranche two-year deal, which priced at par, carries an annual fixed rate coupon of 6.60% and is rated Aa3 by Moody's...